DLF to invest Rs 1,000 crore in Mumbai's Andheri project
In the first phase, DLF will develop around 900,000 sq ft, as it is a slum rehabilitation project and more land will be made available gradually.
'In the 900,000 sq ft, we will have 8 towers, of which we have launched two towers, and another two will be launched soon. The remaining four towers will be launched next year,' said Aakash Ohri, joint managing director and chief business officer at DLF Homes.
The project is part of a bigger slum rehab scheme. It includes a mix of 3 and 4 BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of penthouses.After Mumbai, DLF is expected to launch a Goa project, which will have boutique villas.DLF reported $421 million in sales from NRIs last fiscal, rising from $408 million in FY24. New sales bookings of Rs 21,223 crore are projected for FY25, surpassing its earlier guidance of Rs 17,000–18,000 crore.The company reported a net profit of Rs 1,268 crore in the March quarter, rising 37% from a year earlier.For the full fiscal year, DLF's consolidated net profit rose 59% to Rs 4,357 crore, while consolidated revenue grew to Rs 8,996 crore.The company had earlier outlined plans to launch 37 million sq ft of new projects from FY25 onwards, with a total sales potential of Rs 114,500 crore. Of this, 35% was launched last fiscal, while another 15% is scheduled for FY26.
DLF's robust performance defied concerns of an industry-wide sales downturn, with developers reporting a decline in property sales after a two-year bull run.
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